Thursday, 15 January 2015

How To Easily Save Money This Year

Has anyone else realised that it is January and you're poor? Yeah me too... 

So I figured that I should get back into saving mode, as I did this last year and managed to save quite a lot without trying too hard which could fund a lot of my travels this year. 

I also thought I would share my top tips for saving money in the new year.  Some of these tips are easy, some are a bit trickier but let's all try to save as much mola as possible in 2015! 

Easy Saving
1 - MONEY TIN => ISA
You need to get a money jar or tin for keeping your money separate from the plastic cards which make them so easy to spend your precious money.  It is also a physical reminder of how much you have saved which is a real boost. 

Every few months I'll take my money tin into the bank and not only get a nice surprise when I learn how much there is in there but also get it put into my ISA where it can sit making some interest. 



2 - A Plan 
To save money you need a plan, whether it's goals you set yourself, transferring into a separate account on a set day of the month or anything else.  

My plan: 
  • Every day I put all my change (1p, 2p, 5p and 10p) into my money tin.
  • If I ever find money on the street, when I clean my house, that my boyfriend leaves around the house this goes into the tin as well.  *Side note* does any of the males you know do the leave small changes in piles around the house?  My brother, boyfriend and Dad all do this!  
  • Weekly money saving goes in the tin
Weekly Money

Do you know how there are 52 weeks in the year?  I firstly number these 1-52 on a spreadsheet, so for 2015:

Week 1: 29 December - 4 January 
Week 2: 5 January - 11 January 
Week 3: 12 January - 18 January... 

Whatever the number of the week it is I put the same amount of money into my money tin.  So for week 1 I put £1 away, week 2 is £2 etc.  I really like this method because you slowly train yourself to put away more money and it really adds up.  

It's also really customisable, the first time I did it I started at £10 and increased it to £20 a week, then went back to £10 and started it again.  So week 1 is £10, week 2 is £11, week 3 is £12 but when I reached £20 instead of putting in £21 next I started again at £10.  But I prefer the way I've described above- you can also add more in as you go and at the start of the year I usually put Christmas money directly into an ISA and I am too broke to be putting in more than a couple of quid a week plus my change.


Harder Saving 

The slightly harder method of saving money is writing down everything you spend.  By writing what you spend down this makes you aware of what you do actually spend.  Once you have done this for a while you will actually spend less on some unnecessary things because you'll be embarrassed about writing it down. 

You can write down what you spend in a notebook, a spreadsheet or whatever.  But what I think is the easiest is using an app on my phone, since it's always with me.  I would really recommend one called Spending - the symbol is a wallet.

The next step of this would be writing down what you are spending but also sticking to a budget.  I've not managed this yet but this would let you save even more!

Good luck to all my fellow savers this year!  Let me know what you think of my saving tips or if you have any of your own. 
*unrelated photos are unrelated
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